Context:
Ministry of MSMEs Launches MSME Trade Enablement and Marketing (TEAM) Initiative.
TEAM Initiative:
- Part of – Raising and Accelerating MSME Productivity (RAMP)Programme by the Ministry of MSMEs.
- Supported by – World Bank
- Type – Central Sector Scheme
- Objective – Improve access of MSMEs to market, finance, and technology by enhancing the outreach of existing MSME schemes.
- Utilizes Digital Public Infrastructure through ONDC to support micro and small enterprises (MSEs).
- Outlay: ₹277.35 crore.
- Duration: FY 2024-2025 to FY 2026-2027.
- Target Beneficiaries: 5 lakh MSEs, with 50% being women-owned.
- Implementing Agency: National Small Industries Corporation (NSIC).
- Eligibility Criteria: MSEs with valid Udyam Registration under manufacturing or service sectors.
- Medium Enterprises are not eligible for most benefits.
Related schemes to promote MSMEs:
- Emergency Credit Line Guarantee Scheme (ECLGS) – to mitigate the economic distress faced by MSMEs after COVID-19.
- Udyam Assist Platform (UAP) – to bring the Informal Micro Enterprises (IMEs) under the formal ambit for Priority Sector Lending (PSL).
- CHAMPIONS 2.0 Portal – single-window grievance redressal portal for MSME.
- MSME Self-Reliant India Fund – to provide support for MSMEs across the country through equity infusion
Source: TH
Previous Year Question
Consider the following statements with reference to India:
1. According to the ‘Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, the ‘medium enterprises’ are those with investments in plant and machinery between Rs. 15 crores and Rs. 25 crores.
2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector.
Which of the statements given above is/are correct?
[UPSC Civil Services Exam – 2023 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (b)
Explanation:
Medium Enterprise: An enterprise where the investment in plant and machinery or equipment does not exceed Rs. 50 crores, and turnover does not exceed Rs. 250 crores. Hence, Statement 1 is not correct.
The areas identified under Priority Sector Lending (PSL) in India by the Reserve Bank of India include agriculture, micro, small and medium enterprises (MSMEs), export credit, education, housing, social infrastructure, renewable energy, and weaker sections of society. Hence, Statement 2 is correct.